Research Report Detail

Brokerage Analyst

Report Date

Call

Price@Call

Target Price Stop Loss

Current Status

Time Horizon

NomuraN/A

09-06-2017

Sell

1185.05

854.00N/A

Target Hit

Long (1Y)09-06-2018

Nomura maintains reduce on Bharat Forge

Nomura has maintained reduce on Bharat Forge for target price of Rs 854. It says order inflows for class 8 trucks in North America (NA), according to news reports stood at 18,600 units in May 2017, up 18 per cent y-o-y, on a low base. However, orders were down 30 per cent m-o-m and much lower than the past three months' run-rate of 23,000 - indicating slowdown in momentum.